Leading multiplex operators Ainux Laser and PVR, which announced their merger last month, have a combined pipeline of 2,000 screens and aim to double that size in the next seven years with an investment of Rs 4,000 crore.
The consolidated entity will invest Rs 2.5 crore per screen as part of their expansion, Siddharth Jain, director of Enix Leisure, said in a business update conference call with investors after announcing the merger.
On March 27, PVR and INOX Leisure announced a consolidated deal to create the country’s largest multiplex chain with a network of more than 1,500 screens to unlock opportunities in developed markets as well as third, IV and V cities.
PVR INOX Ltd will be the name of the entity with the branding of existing screens to continue as PVR and INOX respectively. After the merger new movies opened, PVR will be branded as INOX, the companies said March 27.
Responding to a question about the number of screens in the joint venture pipeline, Jain said: “We have about 2,000 screens in the pipeline. Our declared goal is to double our size in the next seven years. Will be. ” However, he added that out of 2,000 screens, about 50 could compete with each other.
“Even the mall owners don’t put it on the side of the road because they know it doesn’t really make sense to do it, and we haven’t looked deeply into it yet to see if there’s a place we can’t go.” Forward with. We haven’t dug deeper into it, “said a copy of the conference call, quoting Jain, submitted by Inx Lizar on Monday.
The new screen additions will be varied and across different levels, he added.
“It’s not that we want to take the movie only to certain Indians. We want to take it wherever we have the potential and a market, ”Jain added.
PVR operates 871 screens across 181 properties in 73 cities, while INOX operates 675 screens across 160 properties in 72 cities.
According to the agreement, INOX will merge with PVR in an exchange ratio of 3 shares of PVR for every 10 shares of INOX.
Upon merger, INOX promoters will be co-promoters of the merged entity with existing PVR promoters. The PVR promoters will have a 10.62 per cent stake and the INOX promoters will have a combined stake of 16.66 per cent, it added.